09/05/2017 - Press release
Total Signs a Production Sharing Contract with CNOOC and CPC for Taiyang Exploration Block in South China Sea
May 9th, 2017, Beijing- Total announces that it signed a Production Sharing Contract (PSC) with China National Offshore Oil Corporation (CNOOC) and CPC Corporation, Taiwan (CPC) for Taiyang exploration block on May 3rd, 2017. Total E&P Chine is the operator and holds 49% of the participating interests, while CNOOC and CPC hold respectively 25.5%.
Taiyang block is located in the north of the South China Sea, with water depths ranging from 600 to 3200 meters. The exploration program will start with seismic surveys.
Javier Rielo, President Asia-Pacific, Total Exploration & Production, commented: “We are delighted to enter with the support of our partners into deep water exploration in the South China Sea, deep offshore being a strength and a key strategic focus of Total.”